Equity Bank bets on agents to drive Tanzania’s financial inclusion agenda

The initiative comes at a time when Tanzania’s financial sector is increasingly relying on alternative service channels to bridge the gap between traditional banking infrastructure and customers in remote and informal markets.

Speaking during the forum, Equity Bank Tanzania’s head of payments, Mr Haidari Chamshama, said the bank is investing in training, technology and innovative solutions to strengthen its agency banking network.

“The strength of our agency banking network lies in its ability to bring financial services closer to the communities we serve. Through continuous investment in training, technology and innovative solutions, we are empowering our agents to deliver exceptional customer service, build sustainable businesses and advance Tanzania’s financial inclusion agenda,” he said.

Agency banking has emerged as one of the fastest-growing channels for delivering financial services in Tanzania, particularly among small businesses, farmers, women entrepreneurs and customers living in areas with limited access to bank branches.

Through banking agents, customers can access services such as cash deposits and withdrawals, money transfers, digital banking solutions and financial product information without visiting conventional banking halls.

Equity Bank said the initiative is designed not only to improve service delivery but also to empower agents as local financial service entrepreneurs capable of supporting economic activity within their communities.

Participants received practical training on customer service, responsible banking practices, regulatory compliance, fraud prevention, digital transaction management and international money transfer services.

The bank noted that while digital banking platforms continue to expand, many customers still rely on physical service points for assistance when registering for financial services, completing transactions or understanding available banking products.

Industry players have increasingly recognised agency banking as a critical component of financial inclusion efforts, particularly in markets where establishing a full-scale branch may not be commercially viable.

By leveraging local entrepreneurs, banks are able to extend their reach into residential areas, trading centres and informal markets while reducing operational costs associated with traditional branch expansion.

Equity Bank said investing in agent development also creates economic opportunities at the grassroots level, as agents earn commissions from transactions and support job creation through their businesses.

The forum also provided agents with an opportunity to engage directly with bank officials on operational challenges and the support required to improve customer experience.

The lender said the Dar es Salaam engagement forms part of its broader 2026 agency development programme, with insights from the forum expected to inform similar initiatives in other regions.

The bank’s strategy combines agency banking, digital platforms, partnerships and customer education to create a more accessible banking ecosystem, particularly for customers transitioning from cash-based transactions to formal financial services.

Equity Bank said individuals and businesses interested in becoming banking agents can apply through its branches, subject to eligibility requirements, due diligence and regulatory approval.